HELP i need some advise !!!

kokokev

Hi all

i need some advise, i have around 17000 worth of unsecured debt to 4 crediters and have just split with my partner so iam left to sort out alone because there all in my name, with now haveing to rent house and live i cant afford to pay the debts, i have thought about iva but just dont know what to do for the best, iam only left with about £100 - £150 after living cost a month.

Tixy

Hi Kev

IVAs are really only suitable for a small number of people - it may be that you can find a solution less drastic than that.

The first point to tackling debts is to completed a detailed budget. This financial statement of affairs http://www.makesenseofcards.com/soacalc.html is useful as it reminds you to include costs as lot of us forget about.

If you post it on here we will be able to give you advice specific to your situation. Other things you can do are to go through each item of expenditure and consider if you are with the cheapest supplier - many people pay more than they need to for mobiles, broadband, insurance, utilities simply because they don't shop round on at least an annual basis.

Also when you post the SoA it will help if you can tell us whether you have any arrears on any items.

RAS

Hi

You may wnat to talk to one of the debt charities but if you can share your SOA, we may be able to help you.

Avoid the debt arrangment/charging companies like a plague.

gfplux

Hello kokokev,
Make out your SOA and post it here. (link - http://www.makesenseofcards.com/soacalc.html ) This will automatically total the numbers. It can be saved (see the help) and you can change it every day if you want.
When making out your SOA (Statement Of Affairs) try not to guess at the figures, dig out the paperwork! However remember a partial completed one is better than none.
It is in fact one of the most IMPORTANT things you will ever do to start on the road to recovery.
If you want a lot of help on this forum, posting your SOA is the first and most important step. After it is done it is very easy to keep it up to date.
In my opinion everyone should have an up to date SOA even if you have little or no debt. It is a great tool to manage your life with.
If you post it on the forum answer the obvious questions before they are asked so you get immediate feedback, such as :-
If there is “other” Income explain what it is
Mortgage – interest only or not.
What is the age of any children.
Council tax is it over 10 or 12 months.
Electricity and gas any arrears.
Water rates meter yes or no.
Mobiles, how many and when are the contracts up for renewal.
If no contents insurance is it include with buildings insurance.
If pets cost money, what are they.
House or flat value, has it been valued by an Estate Agent and when.
The more that can explain about the financial figures and circumstances the quicker the post will get advise rather than lots of questions.
When you have posted it and it does not look right or you want to change it, do so and repost it.
For additional advise and help why not look here http://www.cccs.co.uk/ and here www.nationaldebtline.co.uk/ They both offer help for FREE.
Also here www.payplan.com/index.php


Good Luck